By Anthony P. D’Costa (auth.)
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Additional info for The Long March to Capitalism: Embourgeoisment, Internationalization and Industrial Transformation in India
For example, the changing role of the Indian state in the capital accumulation process and the industry responses to economic opportunities and challenges are likely to bring out 28 The Long March to Capitalism the dynamics of capitalist industrialization. In particular, how the state contributes to the embourgeoisment process and thus to market growth is discussed. This (macro) demand side of market growth is linked to the (micro) supply side of the market in terms of new institutional practices that are designed to increase output.
The ﬁrst is the national level, emphasizing the economic system, social change in the form of embourgeoisment, industrial development, and the changing role of the government. The second is the industry level, accounting for the changing structure of the Indian auto industry and the adoption of novel business practices. The ongoing internationalization of the industry also situates India and the Indian industry in a global context. The third level involves an investigation of speciﬁc ﬁrms which have spearheaded India’s auto industry transformation.
On the other, the “triumph” of the neoliberal model of capitalism creates global abundance relative to effective demand, compelling deregulation and economic openness (Biersteker 1992). Both forms of external inﬂuences – tangible global markets and the ideology of neoliberalism – condition local markets. There are demonstration effects on local consumption and diffusion of best industry practices on local production (Sklair 1995, 2001). In the end, national market development is a selfreinforcing, cumulative process, contingent on embourgeoisment at home and systemic developments abroad.